The Bone & Joint Health Supplements Market is estimated to be valued at USD 11.7 billion in 2022. It is projected to reach USD 17.6 billion by 2027, recording a CAGR of 8.5% during the forecast period.
The global bone & joint health supplements market has been influenced by some of the macroeconomic and microeconomic factors witnessed in some key countries. This would prove strong enough to drive the market significantly in terms of value sales during the forecast period. Growing demand for nutritional supplements like vitamin D, omega-3 fatty acids, calcium and collagen and several innovations in this sector fueling the demand for bone & joint health supplements market.
The tablet segment is estimated to grow at the highest CAGR during the forecast period
The tablet form of bone & joint health supplements is widely consumed on account of the easy availability of various dosage patterns, easy packaging techniques, storage, and cost-effectiveness. Bone & joint health supplements in the tablet form are consumed for various nutrients such as vitamins and omega-3 fatty acids enclosed in it. Tablets are also preferred in comparison to other types of nutritional supplements due to the high shelf life associated with them.
The supermarket/hypermarket segment is estimated to account for the largest share in the market in 2022
Supermarkets expanded the scope of traditional smaller grocers and general stores to cover products such as health supplements decades ago, and so also represent a small but firmly established sales channel for health food market. Interestingly, unlike Pharmacies, products bought at supermarkets are mostly intended for use by someone other than the consumer, but as gifts, or bought for a family member. Developed countries from North America and Europe are expecting a major growth compared to developing countries.
North America is one of the major consumers of bone & joint health supplements globally, owing to the high demand from elderly people population. Due to this, a few leading bone & joint health supplements manufacturers are established across this region, such as Procter & Gamble (US), Amway (US), Archer Daniels Midland (US), Reckitt Benckiser (UK), Pfizer (US), Arazo Nutrition (US), Nature’s Sunshine Products, Inc (US).
Increasing aging population in the Asia Pacific region in countries such as Japan, China and India which are witnessing the higher growth in future for bone & joint health supplements. Hence, in terms of growth, it is expected that the Asia Pacific region would be growing at the highest rate, driven by the increasing awareness of bone & joint health with increasing aging population.
The key players in this market include Bayer AG(Germany), Procter & Gamble (US), Amway (US), Basf SE (Germany) and Archer Daniels Midland (US).
